$163.60 Million in Sales Expected for Pivotal Software (PVTL) This Quarter

Wall Street brokerages expect Pivotal Software (NASDAQ:PVTL) to report $163.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pivotal Software’s earnings. The lowest sales estimate is $162.60 million and the highest is $164.20 million. The business is expected to announce its next earnings report on Wednesday, December 12th.

According to Zacks, analysts expect that Pivotal Software will report full year sales of $651.62 million for the current fiscal year, with estimates ranging from $650.00 million to $652.70 million. For the next fiscal year, analysts forecast that the business will report sales of $801.68 million, with estimates ranging from $787.40 million to $810.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Pivotal Software.

Pivotal Software (NASDAQ:PVTL) last released its earnings results on Wednesday, September 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $164.40 million for the quarter, compared to the consensus estimate of $158.12 million. The business’s revenue for the quarter was up 30.5% on a year-over-year basis.

A number of equities research analysts have commented on the stock. Needham & Company LLC assumed coverage on shares of Pivotal Software in a research note on Monday. They set a “buy” rating and a $25.00 target price on the stock. Wedbush initiated coverage on shares of Pivotal Software in a report on Thursday, October 18th. They set an “outperform” rating and a $25.00 price objective for the company. Barclays increased their price objective on shares of Pivotal Software from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, July 18th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $29.00 price objective on shares of Pivotal Software in a report on Thursday, September 13th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Pivotal Software presently has an average rating of “Buy” and a consensus price target of $23.46.

In related news, President William Cook sold 2,297 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $20.00, for a total value of $45,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward Hieatt sold 44,792 shares of the firm’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $20.00, for a total value of $895,840.00. The disclosure for this sale can be found here.

A number of institutional investors and hedge funds have recently modified their holdings of PVTL. Tower Research Capital LLC TRC bought a new stake in Pivotal Software in the second quarter worth $232,000. Jane Street Group LLC bought a new stake in Pivotal Software in the second quarter worth $252,000. CIBC World Markets Inc. bought a new stake in Pivotal Software in the second quarter worth $260,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Pivotal Software during the second quarter worth $273,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Pivotal Software during the third quarter worth $329,000.

NASDAQ PVTL traded down $0.07 on Friday, reaching $18.03. 971,800 shares of the stock were exchanged, compared to its average volume of 1,787,323. Pivotal Software has a one year low of $15.11 and a one year high of $31.24.

Pivotal Software Company Profile

Pivotal Software, Inc, together with its subsidiaries, provides an integrated solution that combines a cloud-native application platform and services in the United States. Its cloud-native platform, Pivotal Cloud Foundry (PCF), accelerates and streamlines software development by reducing the complexity of building, deploying, and operating modern applications.

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Earnings History and Estimates for Pivotal Software (NASDAQ:PVTL)

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